Aaron R. Crane, left, is a partner and Michael Morehead is an associate in Hogan Lovells' Houston office, where they practice energy litigation. Courtesy Photos 
Certain investment companies and finance industry groups aim to incentivize energy companies to move away from fossil fuels by removing fossil-fuel invested energy companies from their portfolios. In response, Texas passed S.B. 13, codified in Texas Government Code Chapter 809, which requires state divestment from financial companies that boycott energy companies for this purpose. The law took effect Sept. 1, but there is a question whether it will have any bite. The enforcement mechanisms have not begun and there is an exception to the rule if state divestment from financial companies would hurt the state's investment prospects.
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